Penrith Development

Discussion in 'Development' started by Shahin_Afarin, 1st Sep, 2015.

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  1. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    Stormwater and excavation done. Builder is reverting to convention slab (from WP's) at no cost which is great.
     

    Attached Files:

    Shahin_Afarin, 29th Apr, 2016
    #41
  2. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    All 5 are now sold so really need to knuckle down and get this done.

    We have also decided to upgrade the bench tops to 40mm (even though were not contracted to) but we want to set a pretty high standard with these developments.
     
    Shahin_Afarin, 29th Apr, 2016
    #42
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  3. RetireRich101

    RetireRich101 Well-Known Member

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    Great result. The R3 dev lot in Penrith is still pretty warm to sell. I accepted an offer within a week of listing. The price I accepted is similar if not higher than the peak in first quarter 2015.
     
    RetireRich101, 29th Apr, 2016
    #43
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  4. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    R3 sites are selling like hotcakes in Penrith.

    I would love to pick up another similar site 5-6 unit site but they are either hard to come by or too expensive to make the project feasible.
     
    Shahin_Afarin, 30th Apr, 2016
    #44
  5. RetireRich101

    RetireRich101 Well-Known Member

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    Yes R3 land in Penrith council is over $1000 per m2.
     
    RetireRich101, 30th Apr, 2016
    #45
  6. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Nice touch and bonus for your buyers.
     
    Westminster, 30th Apr, 2016
    #46
  7. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    Slab is down - Frames are up next.

    Slab.JPG
     
    Shahin_Afarin, 21st May, 2016
    #47
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  8. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    Frames up.

    Frame2.JPG Frame4.JPG
     
    Shahin_Afarin, 18th Jun, 2016
    #48
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  9. AceBuild

    AceBuild Member

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    Hi Shahin, been following your posts on your developments, well done and best of luck with them. Question about the slab, why did the builder revert to conventional slab from WP? I'm no expert on concrete but wouldn't conventional be much more expensive?? At no cost??? Just curious.
     
    AceBuild, 21st Jun, 2016
    #49
  10. wombat777

    wombat777 Well-Known Member

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    Wow. A great example of what can be done on a narrow site. How wide is this block?

    When first seeing the plans, I was a bit surprised that there is no powder room on the bottom floor. Can't have been much of a problem as you sold them all quickly. Did you have any comments on this?

    Did you predominately sell them to investors or owner-occupiers?
     
    wombat777, 21st Jun, 2016
    #50
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  11. kvellimalai

    kvellimalai Well-Known Member

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    kvellimalai, 24th Jun, 2016
    #51
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  12. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    Hi Ace we have a good amicable relationship with the builder. They have had some delays and issues which we haven't pushed them on but in turn they too have come to the table with certain things.

    The thing I like about this builder is that they give you suggestions on things which is great.

    Back to your question - there was delays with the WP hence they reverted back to CS but I don't think the difference would have been huge anyway.

    Wombat - the frontage is 15m. There is no PR on the ground floor - one person mentioned it but its wasn't a big deal.

    All 5 were o/o but I have recommend that a few of them look at converting them into IP's in order to claim depreciation. It will be neutrally geared if they convert it into an IP. The grants, stamp duty exemption and depreciation help with the numbers.
     
    Shahin_Afarin, 25th Jun, 2016
    #52
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  13. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    2nd storey up w/ roofing to commence in a fortnight.

    Frame1.JPG Frame2.JPG
     
    Shahin_Afarin, 1st Jul, 2016
    #53
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  14. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    Construction coming along smoothly so far attached are the latest pics

    IMG_2502.JPG IMG_2500.JPG Framing3.JPG
     
    Shahin_Afarin, 17th Aug, 2016
    #54
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  15. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    Latest update from December - we added the island benches without charging the purchasers because the kitchen is just too small without them.

    Kitchen.jpeg Kitchen1.jpeg Kitchen3.jpeg
    Laundry Door.jpeg
     
    Shahin_Afarin, 29th Jan, 2017
    #55
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  16. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    2.png 4.png 3.png 5.png 6.png 1.png 7.png This was finished a while back but I forgot to upload the final pics - here they are
     
    Shahin_Afarin, 28th Jul, 2017
    #56
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  17. samsoom

    samsoom Member

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    This was finished a while back but I forgot to upload the final pics - here they are[/QUOTE]
    Hi Shahin where exactly in Penrith are these located, would love to sus them out. Have a development going up soon in Penrith.
     
    samsoom, 24th Sep, 2017
    #57
  18. Luca

    Luca Well-Known Member

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    It looks good, good job!
     
    Luca, 24th Sep, 2017
    #58
  19. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    They are on Barry St, Cambridge Park.
     
    Shahin_Afarin, 29th Sep, 2017
    #59
    samsoom likes this.
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